Peru, Canada Sign Critical Minerals MOU with Investments in Mind

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Written by Amir Richani for IIR News Intelligence (Sugar Land, Texas)

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Summary

Canada and Peru are exploring mining partnerships and investment opportunities in critical minerals, which could attract greater interest in Peru's mining portfolio of 67 projects and 84 exploration projects.

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Agreement May Open Door for Investments

The governments of Peru and Canada signed a memorandum of understanding (MOU) on Wednesday to cooperate on critical minerals and sustainable mining.

The agreement aims to boost bilateral investments, share technical solutions for traceability and decarbonization, improve regulations and exchange workforce skills.

At its core, the deal aims to open new investment opportunities for Canada in Peru's mining industry and to further expand the export of Canadian mining equipment to Peru.

Canada is the second-largest investor in Peru's mining sector, with about C$11.2 billion (US$8.1 billion) in assets held by 67 Canadian companies.

The Canadian companies operating in Peru include Teck Resources in the Zafranal project, currently under development and valued at over US$1.9 billion in investments, and Hudbay Minerals, which wholly owns the Constancia mine in Cusco. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project and Plant databases can view the Zafranal project reports and the Constancia mine profile.

Canada Minister of Energy Tim Hodgson said, "Canada has what the world wants, and our abundant mineral deposits and mining expertise are no exception." He continued, "That's why, as part of our push to double non-U.S. trade, generate economic growth at home and build new international trade and investment relationships, we are signing agreements like this MOU with Peru."

Peru Keeping a Relevant Role

For Peru, the MOU represents an opportunity to develop new assets and expand its production. Peru is the world's third-largest copper producer, a critical mineral used in the development of clean transition technologies. In 2025, Peru produced 2.76 million tons of copper, about 1.2% more than in 2024.

In addition to copper, Peru holds 1 million tons of lithium resources, according to the United States Geological Survey. Industrial Info is tracking seven lithium projects within the Falchani lithium development, totaling US$777 million.

Peru's mining portfolio includes 65 projects amounting to US$64 billion and 84 exploration projects worth more than US$1 billion, which are mainly focused on copper, gold, silver, zinc and iron ore.

Peru forecasts investments of US$7.61 billion in eight projects that are scheduled to begin execution throughout 2026, according to former vice Minister of Mines and Energy Carlos Talavera.

For 2025, the country recorded mining investments of US$6.22 billion, an 24.3% increase from the total seen in 2024.

Key Takeaways

• Canada and Peru sign an MOU on critical minerals partnerships and opportunities.
• Canadian companies hold more than US$8 billion in Peruvian assets.
• Investments in Peru's mining sector totalled US$6.22 billion in 2025.

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About IIR News Intelligence
IIR News Intelligence is a trusted source of news for the industrial process and energy markets, powered by Industrial Info Resources' Global Market Intelligence (GMI).

About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).